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Paris Club Debts


dinardude10
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The following is official.. from the CBI web site http://www.cbi.iq/index.php?pid=GovernmentSecurities

This to inform with facts

Government Debt

Total government debt is estimated to be $60.05 billion in 2010. This represents 72% of GDP and is comprised of the following components:

External debt ($45.09 billion)

Domestic t-bills ($5.55 billion)

Bank debt ($9.41 billion)

External Debt

Following the ouster of the regime in spring 2003, Iraq’s external debt was estimated to be between $130-$140 billion. Reducing this debt to a sustainable level has been a priority since 2003 and debt relief negotiations have taken place in a variety of forums. This has led to the cancelation of a significant amount of Iraq’s external debt.

Iraq’s external debt is comprised of four components:

Paris Club bilateral debt ($42.5 billion)

Non-Paris Club bilateral debt ($67.4 billion)

Commercial debt ($20 billion)

Multilateral debt ($0.5 billion)

Debt relief negotiations first led to an 80% reduction of the Paris Club debt. The Paris Club agreement also set the terms for non-Paris Club and commercial debt cancelation levels. A provision of the Paris Club agreement is that Iraq cannot accept a debt cancellation agreement with other creditors on more favorable terms for Iraq than those reached with the Paris Club.

Thus, Iraq is expected to receive no more than an 80% cancelation from all of its creditors. Negotiations with non-Paris Club creditors are ongoing (mainly with Gulf countries except the UAE), and resolution of the commercial debt is largely complete.

External debt is estimated to be at $45.09 billion in 2010 (see government debt above).

Government Bonds (part of external debt)

Security Name IRAQ 5.8 01/15/28

Announce Date 04.01.2006

Issue Date 19.01.2006

Maturity 15.01.2028

ISIN Code XS0240295575

Redemption Value 100

Par Amount 1000

Amount Issued $2,700,000,000

Country Full Name Iraq

Coupon (%) 5.8

Coupon Frequency 2

Currency USD

The material above should not be considered an offer or solicitation to buy or sell securities

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Thank you rgsmiths,

Here is a little more info that helped me to better understand the paris club issue. It's a lot of info but it is sure interresting.

Carla

Ali Merza

Chief Technical Advisor

United Nations Department of Economic and Social Affairs

http://www.aitrs.org...c_res/lre16.pdf

The following is official.. from the CBI web site http://www.cbi.iq/in...nmentSecurities

This to inform with facts

Government Debt

Total government debt is estimated to be $60.05 billion in 2010. This represents 72% of GDP and is comprised of the following components:

External debt ($45.09 billion)

Domestic t-bills ($5.55 billion)

Bank debt ($9.41 billion)

External Debt

Following the ouster of the regime in spring 2003, Iraq’s external debt was estimated to be between $130-$140 billion. Reducing this debt to a sustainable level has been a priority since 2003 and debt relief negotiations have taken place in a variety of forums. This has led to the cancelation of a significant amount of Iraq’s external debt.

Iraq’s external debt is comprised of four components:

Paris Club bilateral debt ($42.5 billion)

Non-Paris Club bilateral debt ($67.4 billion)

Commercial debt ($20 billion)

Multilateral debt ($0.5 billion)

Debt relief negotiations first led to an 80% reduction of the Paris Club debt. The Paris Club agreement also set the terms for non-Paris Club and commercial debt cancelation levels. A provision of the Paris Club agreement is that Iraq cannot accept a debt cancellation agreement with other creditors on more favorable terms for Iraq than those reached with the Paris Club.

Thus, Iraq is expected to receive no more than an 80% cancelation from all of its creditors. Negotiations with non-Paris Club creditors are ongoing (mainly with Gulf countries except the UAE), and resolution of the commercial debt is largely complete.

External debt is estimated to be at $45.09 billion in 2010 (see government debt above).

Government Bonds (part of external debt)

Security Name IRAQ 5.8 01/15/28

Announce Date 04.01.2006

Issue Date 19.01.2006

Maturity 15.01.2028

ISIN Code XS0240295575

Redemption Value 100

Par Amount 1000

Amount Issued $2,700,000,000

Country Full Name Iraq

Coupon (%) 5.8

Coupon Frequency 2

Currency USD

The material above should not be considered an offer or solicitation to buy or sell securities

Edited by carlablum
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